Financial Sector Wrap

Markets FOXBusiness

During trading today, both the Financial sector (XLF) and the S&P500 showed little movement.

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Although it went in the opposite direction of the market today, the ETF tracked closer to the overall market today than over the past month. Entering today's trading, XLF was down 3.1% over the last thirty trading days while the S&P 500 was down 2%.

Erie Indemnity Company (ERIE) was a major loser in the sector. Its price dropped 9% (-$6.90) to close at $69.83, as 92,649 shares moved. The stock traded between $67.69 and $75.82. The stock is down over the last three months, having fallen $8.95 (-11.4%) from $78.78 on February 7, 2012.

Direxion Daily China Bear 3x Shares ETF (YANG) was a major gainer in the sector, rising 6.4% (+73 cents) to close at $12.09 with 66,182 shares moving. The stock traded in a range of $11.72 to $12.15. The stock has been losing steam over the last month, sliding 46 cents (-3.7%) from a price of $12.55 on April 4, 2012.

Safety Insurance Group (SAFT) rose 2.4% to close at $40.97, crossing its 50-day moving average of $40.83.

American National Insurance Company (ANAT) rose 1.2% to close at $70.25, approaching its 50-day moving average of $71.20. It has also moved closer to its 200-day moving average of $71.91. Westpac Banking Corporation (AON) fell 1.5% to close at $115.49, moving closer to its 50-day moving average of $114.23. Also, the stock moved closer to its 200-day moving average of $47.56.

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Wellesley Bancorp (WEBK) hit a new 52-week high today, reaching $13.99 to top the previous high of $13.53.

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